Aktis Oncology’s Quiet Period Set To End on February 18th (NASDAQ:AKTS)

Aktis Oncology’s (NASDAQ:AKTS) quiet period will end on Wednesday, February 18th. Aktis Oncology had issued 17,650,000 shares in its IPO on January 9th. The total size of the offering was $317,700,000 based on an initial share price of $18.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AKTS. JPMorgan Chase & Co. assumed coverage on Aktis Oncology in a research report on Tuesday, February 3rd. They set an “overweight” rating and a $30.00 price target for the company. Leerink Partners initiated coverage on shares of Aktis Oncology in a research note on Tuesday, February 3rd. They set an “outperform” rating and a $31.00 price objective on the stock. Wall Street Zen raised shares of Aktis Oncology to a “hold” rating in a report on Saturday, January 17th. TD Cowen initiated coverage on shares of Aktis Oncology in a research note on Tuesday, February 3rd. They set a “buy” rating on the stock. Finally, Bank of America initiated coverage on shares of Aktis Oncology in a research report on Tuesday, February 3rd. They set a “buy” rating and a $34.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Aktis Oncology has an average rating of “Buy” and an average price target of $31.67.

Aktis Oncology Trading Down 6.3%

Shares of AKTS stock opened at $17.80 on Wednesday. Aktis Oncology has a fifty-two week low of $17.65 and a fifty-two week high of $29.16.

Insiders Place Their Bets

In related news, major shareholder Bioventures 2018 L.P. Mpm purchased 1,112,777 shares of the company’s stock in a transaction on Monday, January 12th. The shares were bought at an average price of $18.00 per share, with a total value of $20,029,986.00. Following the completion of the acquisition, the insider owned 10,260,064 shares of the company’s stock, valued at approximately $184,681,152. This represents a 12.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Helen Susan Kim acquired 835,000 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were bought at an average price of $18.00 per share, with a total value of $15,030,000.00. Following the transaction, the director directly owned 5,671,825 shares in the company, valued at approximately $102,092,850. The trade was a 17.26% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 6,117,776 shares of company stock worth $110,119,968.

Aktis Oncology Company Profile

Aktis Oncology (NASDAQ: AKTS) is a biotechnology company focused on the discovery and development of new therapies for cancer. The firm concentrates on advancing oncology candidates through research and development with the goal of addressing unmet medical needs in oncology. Its work emphasizes targeted and precision approaches intended to improve the safety and efficacy profiles of cancer treatments.

The company’s activities include laboratory research, preclinical studies and clinical development as it advances its pipeline programs toward regulatory milestones.